Century Properties Group Inc. (CPG), the property development arm of the Antonio Group, reported a 31 percent year-on-year increase in net income after tax for 2024, reaching P2.44 billion, up from P1.86 billion in 2023. Company revenue also rose by 15 percent to P14.64 billion, driven by strong performance in its first-home and premium residential markets.
The company’s successful pivot toward affordable housing has proven lucrative, with first-home segment revenue growing 34 percent to P9.9 billion from P7.4 billion in 2023. CPG’s premium offerings contributed P3 billion, while its leasing and property management divisions added P1.31 billion and P464 million, respectively.
CPG president and CEO, Marco R. Antonio, credited the company’s operational excellence, effective project completions, and debt management for the impressive results. He highlighted CPG’s geographic expansion, including projects in North and South Luzon and its entry into the Visayas, aimed at meeting strong housing demand across various segments.
The company’s total assets grew by 3 percent to P55.9 billion, and a 16 percent reduction in interest-bearing debt contributed to improved financial outcomes. CPG also achieved a landmark double-digit return on equity for common shareholders.
CFO Ponciano S. Carreon Jr. said prudent financial management and efficient operations placed the company in a strong position to navigate industry challenges and deliver long-term value to shareholders.
Looking forward, CPG aims to expand further with its “twin-engine strategy,” combining affordability with aspirational living, focusing on underserved growth corridors to foster community development while continuing its dual focus on first-home and premium residential segments.
